Ambarella (NASDAQ:AMBA) Share Price Passes Above 200 Day Moving Average – Here’s Why

Ambarella, Inc. (NASDAQ:AMBA)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $53.62 and traded as high as $62.00. Ambarella shares last traded at $61.66, with a volume of 405,313 shares changing hands.

Analyst Ratings Changes

A number of analysts have commented on AMBA shares. Stifel Nicolaus boosted their price objective on Ambarella from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Needham & Company LLC restated a “buy” rating and set a $90.00 price objective on shares of Ambarella in a research note on Wednesday, August 28th. Roth Mkm reiterated a “neutral” rating and issued a $60.00 target price on shares of Ambarella in a research note on Wednesday, August 28th. Morgan Stanley increased their price target on Ambarella from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Wednesday, August 28th. Finally, TD Cowen lifted their price objective on shares of Ambarella from $65.00 to $75.00 and gave the stock a “hold” rating in a research report on Wednesday, August 28th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Ambarella presently has an average rating of “Hold” and an average price target of $74.09.

Ambarella Price Performance

The company has a market capitalization of $2.54 billion, a P/E ratio of -14.27 and a beta of 1.63. The firm’s 50-day moving average is $56.51 and its 200-day moving average is $53.62.

Ambarella (NASDAQ:AMBA) last posted its quarterly earnings data on Tuesday, August 27th. The semiconductor company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. The firm had revenue of $63.70 million for the quarter, compared to analysts’ expectations of $62.10 million. Ambarella had a negative return on equity of 26.01% and a negative net margin of 79.46%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.76) EPS. As a group, analysts forecast that Ambarella, Inc. will post -3 EPS for the current fiscal year.

Insider Activity at Ambarella

In related news, VP Yun-Lung Chen sold 5,963 shares of Ambarella stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the completion of the transaction, the vice president now owns 62,026 shares in the company, valued at approximately $3,570,216.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Yun-Lung Chen sold 5,963 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $57.56, for a total value of $343,230.28. Following the sale, the vice president now directly owns 62,026 shares in the company, valued at approximately $3,570,216.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher Day sold 2,904 shares of the stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $58.00, for a total value of $168,432.00. Following the completion of the sale, the vice president now owns 18,466 shares in the company, valued at approximately $1,071,028. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,423 shares of company stock valued at $1,356,402 over the last 90 days. 5.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ambarella

A number of hedge funds and other institutional investors have recently modified their holdings of AMBA. BNP Paribas Financial Markets grew its position in shares of Ambarella by 12.3% in the 1st quarter. BNP Paribas Financial Markets now owns 43,607 shares of the semiconductor company’s stock worth $2,214,000 after buying an additional 4,792 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in Ambarella during the 1st quarter worth $205,000. Swiss National Bank increased its position in Ambarella by 0.9% during the 1st quarter. Swiss National Bank now owns 75,433 shares of the semiconductor company’s stock valued at $3,830,000 after buying an additional 700 shares in the last quarter. Sei Investments Co. purchased a new stake in Ambarella in the first quarter valued at about $571,000. Finally, Russell Investments Group Ltd. boosted its holdings in Ambarella by 43.5% in the first quarter. Russell Investments Group Ltd. now owns 24,610 shares of the semiconductor company’s stock worth $1,249,000 after acquiring an additional 7,464 shares in the last quarter. 82.09% of the stock is currently owned by institutional investors.

About Ambarella

Ambarella, Inc develops semiconductor solutions that enable high-definition (HD) and ultra HD compression, image signal processing, and artificial intelligence processing worldwide. The company's system-on-a-chip designs integrated HD video processing, image processing, artificial intelligence computer vision algorithms, audio processing, and system functions onto a single chip for delivering video and image quality, differentiated functionality, and low power consumption.